Pursuing a future career in accounting doesn’t have to break the bank; if you’re looking for financial assistance for your master’s in accounting, there are many opportunities available. Finding out about your options to reduce the costs of your education can be an important step to making your career goals happen. Use this comprehensive OMD guide to find scholarships, grants, and fellowships, answers to common funding questions (including a tuition cost comparison), tips to strengthen your scholarship applications, and useful professional resources. A list of top scholarships that I can apply to today… Insightful and guiding answers to common questions prospective students like myself have about earning this degree… How I can succeed on scholarship applications, with actionable tips… More resources that will help me find, apply to, and land scholarships and other financial aid…
Scholarships, Grants, and Fellowships for Accounting Master’s Students
AICPA Scholarship for Minority Accounting Students
This annual scholarship from the AICPA Foundation encourages greater ethnic diversity in the CPA profession. It provides financial support to outstanding minority students pursuing accounting degrees. Established in 1969, it has aided over 8,000 students in becoming CPAs.
Amount: $2,500–$10,000
Deadline: March 15 annually
Eligibility Requirements:
- Be an underrepresented minority student (e.g., Black, Hispanic, Native American, Pacific Islander, Asian American)
- Enrolled full-time in an undergraduate or graduate accounting program for the upcoming academic year
- 3.0 GPA or higher (overall and in accounting)
- U.S. citizen or permanent resident, with some financial need
AICPA Scholarship for Future CPAs
Sponsored by the AICPA Foundation and BKR International, this scholarship supports students (undergraduate or graduate) who plan to become CPAs. It aims to ease the financial burden for aspiring CPAs and is non-renewable (past winners cannot reapply).
Amount: $5,000–$10,000
Deadline: March 15 annually
Eligibility Requirements:
- Enrolled full-time in an accounting program for the next academic year
- Completed at least 30 college credit hours (6+ in accounting) before spring semester of application year
- Minimum 3.0 GPA
- Plan to pursue CPA licensure
- U.S. citizen or permanent resident, with AICPA Student Affiliate membership
PCPS George Willie Ethnically Diverse Scholarship & Internship
Offered by the AICPA Private Companies Practice Section (PCPS), this program awards 10 ethnic minority accounting students with both a scholarship and a busy-season internship at a CPA firm. It honors George Willie’s legacy of supporting minority accountants.
Amount: Up to $10,000
Deadline: April
Eligibility Requirements:
- Identify as an ethnic minority (Black, Hispanic, Native American, Pacific Islander, Asian, or multiracial)
- Full-time student in final year of an undergraduate or graduate accounting program (120+ credit hours completed)
- 3.0 GPA or higher
- AICPA Student Affiliate member and U.S. citizen/permanent resident
- Available for a January–April CPA firm internship
Deloitte Foundation Accounting Scholars Program
The Deloitte Foundation partners with select universities to cover 100% of tuition and fees for students entering a fifth-year master’s in accounting or tax. Up to 10 scholarships per school may be awarded to strengthen the pipeline of diverse CPA talent.
Amount: Full tuition and fees for one-year master’s program
Deadline: Varies by partner university (often early spring before enrollment)
Eligibility Requirements:
- Apply and be admitted to a participating university’s MAcc or MTax program
- Minimum 3.0 GPA; meet partner university admissions criteria
- U.S. address or valid visa if not U.S. citizen
- Must commit to a career in public accounting and accept an offer from Deloitte (scholarship contingent on joining Deloitte after graduation)
PCAOB Scholars Program
Funded by penalties collected by the PCAOB, this merit-based program awards scholarships to outstanding accounting students likely to become auditors. In 2024, the PCAOB expanded the program to 676 students and increased the award to $15,000 per student. Students do not apply directly; schools nominate eligible students.
Amount: $15,000
Deadline: Nominated by participating colleges (typically spring each year)
Eligibility Requirements:
- Enrolled in an accredited U.S. undergraduate or graduate accounting program
- Likely to pursue a career in auditing with external audit focus
- Nominated by your college; each participating school selects a PCAOB Scholar based on merit and need
- Must not have previously received a PCAOB scholarship
ALPFA Scholarship Program
The Association of Latino Professionals For America (ALPFA) offers national scholarships to members pursuing business and accounting degrees. Funded by corporate partners, these awards help break financial barriers for Latino students and are open to all majors (business focus).
Amount: Up to $10,000
Deadline: Late March
Eligibility Requirements:
- ALPFA member (student membership required)
- Full-time student in an accredited U.S. college
- 2.5 GPA or higher
- U.S. citizen, permanent resident, or DACA
- Open to all majors (business focus) – applicants of any ethnicity/nationality can apply, though ALPFA’s mission focuses on Latino professionals
NABA National Scholarship Program
The National Association of Black Accountants awards scholarships to student members who demonstrate academic excellence, leadership, and financial need. Thanks to corporate and individual donations, NABA provides about 150 scholarships annually ranging from $1,000 to $10,000. One application places students in consideration for numerous named awards.
Amount: $1,000–$10,000
Deadline: Typically mid-January to mid-February
Eligibility Requirements:
- Active NABA student member
- Enrolled full-time in an accredited U.S. undergraduate or graduate program in accounting, finance, or business
- Minimum GPA (often 3.0) with overall academic excellence
- U.S. citizen or permanent resident
- Short essay required; leadership and community involvement considered
ACFE Ritchie-Jennings Memorial Scholarship
The Association of Certified Fraud Examiners (ACFE) offers this scholarship to students interested in fraud examination and forensic accounting. Awards of $10,000, $7,500, $5,000, and $2,000 are paid directly to the student’s university. Recipients also receive a year of ACFE membership.
Amount: $1,000–$10,000
Deadline: Early February
Eligibility Requirements:
- Full-time undergraduate or graduate student, enrolled through the next academic year
- Major or minor in accounting, business, finance, criminal justice or related field, with desire for a career in fraud examination
- Attend an accredited four-year college or university
- Two recommendation forms from faculty or professionals (required)
- Citizens of any country can apply, but must enroll in a U.S. institution
AGA National Academic Scholarships
The Association of Government Accountants (AGA) awards scholarships to students pursuing studies in accounting, finance, or public administration, aiming to foster careers in government financial management. AGA awards three scholarships for graduate students each year (full-time or part-time), as well as other categories for undergrads and community service.
Amount: $3,000 each (for graduate category)
Deadline: Late May
Eligibility Requirements:
- Enrolled in a graduate program in accounting, finance, economics, public admin, or related field
- AGA member or immediate family of a member (student membership is free)
- 3.0 GPA or higher recommended
- Community service and public sector interest (commitment to government/nonprofit financial management)
- Part-time students must be attending at least half-time
Daniel B. Goldberg & Miller Public Finance Scholarship
This prestigious scholarship from the Government Finance Officers Association (GFOA) is for graduate students preparing for a career in state and local government finance. Funded by the Girard Miller Foundation, it recognizes one outstanding student each year.
Amount: $30,000
Deadline: January
Eligibility Requirements:
- Full-time graduate student in public finance (e.g., Master of Public Administration, Master of Accountancy with government focus)
- Strong interest in a state/local government finance career
- Outstanding academic record and letter of recommendation attesting to commitment to public service
- U.S. or Canadian citizen/permanent resident (GFOA accepts students from the U.S. and Canada)
- Not a past GFOA scholarship winner
Frank L. Greathouse Government Accounting Scholarship
Also offered by GFOA, this scholarship supports students preparing for careers in state and local government accounting. Two winners are selected for 2025. It’s open to both undergraduates (upper-level) and graduate students in accounting.
Amount: $10,000 each
Deadline: January
Eligibility Requirements:
- Full-time student in the final year of an undergraduate accounting program or in a graduate accounting program
- Plan to pursue a career in government accounting at the state or local level
- Recommendation from professor or employer speaking to commitment to public service
- Citizen or permanent resident of U.S. or Canada
- Not a previous GFOA scholarship recipient
Clark Burrus Public Service Scholarship
Formerly the Minorities in Government Finance Scholarship, this GFOA award was renamed to honor Clark Burrus. It recognizes one outstanding minority student in public finance. Eligible students are those in accounting, finance, economics, or public admin programs who plan a public-sector career.
Amount: $10,000
Deadline: January annually
Eligibility Requirements:
- Enrolled full-time or part-time in upper-level undergraduate or graduate study in accounting, finance, economics, public administration, or related field with a focus on government/nonprofit
- Identify as a minority as defined by the scholarship
- Interest in a career in state or local government finance
- Letter of recommendation attesting to commitment to public service
- U.S. or Canadian citizenship/permanent residency
Accounting & Financial Women’s Alliance (AFWA) Master’s Scholarship
The AFWA Foundation offers annual scholarships to support women pursuing accounting or finance degrees at the master’s level. These scholarships, which often honor namesakes like Paula Zanni, help women achieve their educational goals and advance in accounting leadership.
Amount: Varies; typically around $1,500–$2,000
Deadline: April 1
Eligibility Requirements:
- Applicant must be a woman pursuing a master’s degree in accounting or finance
- U.S. citizen attending an accredited college or university
- Demonstrated financial need
- Academic achievement (often 3.0+ GPA) and career objectives in accounting/finance
- An AFWA member endorsement can strengthen application
EFWA IMA Graduate Scholarship
The Educational Foundation for Women in Accounting (EFWA), in partnership with IMA, offers this scholarship to support women who are the primary source of support for their families. The award includes not only cash toward tuition but also covers costs associated with the Certified Management Accountant (CMA) exam.
Amount: Up to $1,500
Deadline: Typically April
Eligibility Requirements:
- Female student pursuing a master’s degree in accounting (or MBA with accounting concentration)
- Must be the primary source of financial support for her family
- U.S. citizen attending an AACSB-accredited business program
- Demonstrated financial need
- Includes a one-year IMA student membership and CMA exam fees (scholarship recipients get a free IMA membership and exam registration)
EFWA Women in Accounting Graduate Scholarship
In addition to the IMA-partnered award, EFWA offers its own graduate scholarship for women in accounting. This one-year scholarship is open to women pursuing an advanced degree in accounting who have shown academic merit and need, helping alleviate tuition costs for the final year of study.
Amount: Up to $1,500
Deadline: Late April
Eligibility Requirements:
- Female student enrolled in an accredited master’s program in accounting (or business with accounting focus)
- U.S. citizen
- Demonstrated financial need to complete degree
- Commitment to pursuing an accounting career
IMA Memorial Education Fund & Stuart Cameron Scholarships
The Institute of Management Accountants (IMA) sponsors the MEF and SCMS scholarships for students who plan to pursue the CMA or a career in management accounting. Dozens of scholarships are awarded annually, ranging from $1,000 to $5,000. Applicants submit one application to be considered for both programs.
Amount: $1,000–$5,000
Deadline: March
Eligibility Requirements:
- IMA student member
- Undergraduate seniors or graduate students in accounting or finance (must be enrolled in the upcoming academic year)
- Not have received an IMA MEF or SCMS scholarship previously
- Overall academic excellence (typically 3.0+ GPA) and faculty recommendations
- Express interest in pursuing the CMA certification or a career in management accounting
Illinois CPA Society Accounting Scholarships
The Illinois CPA Society (ICPAS) offers academic scholarships to accounting students at Illinois colleges who plan to become CPAs. More than 40 scholarships of $1,000–$4,000 each are awarded to senior and graduate accounting students based on academic achievement, leadership, and financial need.
Amount: $1,000–$4,000
Deadline: April 1
Eligibility Requirements:
- Enrolled in an Illinois college/university as a senior or graduate student in accounting
- Minimum 3.0/4.0 GPA
- Plan to sit for the CPA exam in Illinois within three years
- U.S. citizen or permanent resident
- Demonstrated leadership and financial need
Hispanic Scholarship Fund (HSF) Scholarship
The Hispanic Scholarship Fund is a large national program that provides scholarships to students of Hispanic heritage across all fields of study. Graduate students, including those pursuing accounting, are eligible. Awards range from $500 to $5,000 based on merit and need, and scholars receive career development and mentorship.
Amount: $500–$5,000
Deadline: February annually
Eligibility Requirements:
- Must be of Hispanic heritage
- U.S. citizen, permanent resident, or DACA
- Full-time student in an accredited graduate or undergraduate program for the upcoming year
- Minimum 2.5 GPA for graduate students
- Submit FAFSA or state financial aid forms for need verification
Texas Fifth-Year Accounting Student Scholarship
This program, funded by the Texas State Board of Public Accountancy, provides financial assistance to Texas residents completing the 150-hour education requirement for CPA licensure. Awards are applied to tuition for the fifth year (graduate studies) and incentivize candidates to take the CPA Exam. Recipients must sit for at least one section of the CPA exam within three years or repay funds
Amount: $1,500 to $7,500 total
Deadline: July 1 for fall awards; November 1 for spring-only awards
Eligibility Requirements:
- Texas resident enrolled at a participating Texas college/university (at least half-time)
- Completed 120+ credit hours and within 30 hours of completing 150-hour CPA requirement
- Filed Application of Intent to take the CPA Exam in Texas
- Financial need; completed FAFSA
KPMG Master of Accounting with Data and Analytics Program
KPMG’s unique MADA Program provides selected students with a $40,000 scholarship for tuition to earn a Master’s in Accounting with Data & Analytics, plus hands-on experience and a full-time job offer in KPMG’s audit practice. Participants gain advanced data analytics training during their studies and commit to working for KPMG upon graduation.
Amount: Up to $40,000
Deadline: Varies
Eligibility Requirements:
- Apply and be accepted to one of the partner universities’ MADA programs
- Complete an undergraduate degree in accounting or equivalent coursework before the master’s program starts
- U.S. work authorization (no employment visa sponsorship for this program)
- Demonstrate academic excellence and interest in data analytics (3.0+ GPA recommended)
Answering Your Questions About Paying for an Online Accounting Master’s Degree
Can I get scholarships specifically for an online Master’s in Accounting?
Yes – most accounting scholarships are open to students in any accredited program, whether online or on-campus. Key is that your program is accredited and leads to the CPA or relevant credential. Online students can also look for scholarships through their university’s distance learning department or alumni associations. Be sure to join professional organizations (like AICPA, IMA, NABA, ALPFA) as a student member – many offer scholarships or student competitions exclusively for members.
When should I start applying for accounting scholarships for grad school?
Start early – ideally at least a year before you enroll. Many national scholarships have deadlines in late winter or early spring for funds disbursed in the fall. Create a calendar of deadlines and don’t forget to apply for federal financial aid by the spring as well – even if scholarships are your focus, the FAFSA can qualify you for grants or low-interest loans. Starting early also gives you time to gather recommendation letters and transcripts, and to write quality personal statements without rushing.
How can I reduce the cost of a Master’s in Accounting besides scholarships?
There are several ways to make your degree more affordable including graduate assistantships which provide a stipend or tuition waiver; employer sponsorship for tuition reimbursement; in-state tuition or schools with online discounts; and accelerated programs like 4+1 combined bachelors/masters programs in accounting, allowing you to double-count credits and finish faster, saving a semester of tuition.
What financing options are available if scholarships aren’t enough?
If you don’t secure enough scholarship or grant funding to cover tuition, you have multiple financing options including: Federal Student Loans (fill out the FAFSA) like unsubsidized Stafford loans (up to $20,500/year) and potentially Grad PLUS loans for additional needs; Private Student Loans from banks or credit unions; payment plans that allow installments to spread out tuition payments over the semester; and work-study or part–time jobs. Also check into CPA exam/reimbursement bonuses from public accounting firms that give new hires a bonus for passing the CPA exam.
How much does an Accounting master’s program cost?
The cost for a master’s degree can vary widely based on the school and format. For example, an online Master of Accounting at a top-ranked school can cost over $50,000, whereas an online program at a state university might be under $25,000. Don’t forget to factor in fees, books, and living expenses. Online students save on relocation and sometimes pay a flat rate. Ultimately, research each program’s tuition on their official site for updates, and use the credit requirements to estimate total cost. Here’s a comparison of three sample programs:
| School Name | No. of Credits | Cost per Credit | Total Cost |
|---|---|---|---|
| UNC Chapel Hill – Online MAC | 36 | $1,446 | $52,100 |
| Univ. of Illinois – iMSA | 32 | $878 (accounting courses) | $21,920–$28,096 |
| Southern New Hampshire Univ. – MS Accounting | 30 | $637 | $19,110 |
Tips to Stand Out on Accounting Scholarship Applications
Here are five strategies to make your accounting scholarship applications shine, along with actionable tips for each:
- Tailor Your Letters of Recommendation: Choose references who know you well and can speak to your accounting potential. Provide them with your scholarship’s requirements and examples of your achievements. A generic letter won’t stand out – scholarship-specific recommendation letters that highlight qualities relevant to the award are more effective.
- Research the Scholarship and Tailor Your Application: Research the sponsoring organization’s mission and values, then align your essay and résumé to those priorities. For example, if applying for a government accounting scholarship, mention your interest in public service or government internship experience. Tailoring shows the judges that you’re not sending a one-size-fits-all application and that you truly resonate with their specific scholarship’s purpose.
- Start Early and Stay Organized: Begin applications well ahead of deadlines to avoid rushing. Use a spreadsheet to track requirements (transcripts, essays, references) and deadlines for each scholarship. Plan ahead for recommendations – give your referees at least three to four weeks to prepare letters
- Craft a Compelling Personal Essay: Your essay or personal statement is often the deciding factor. Use it to tell a story about your journey or goals in accounting. Highlight your strengths and achievements clearly and positively, and if you overcame obstacles or are a first-generation student, share that narrative. Be genuine about your passion for accounting. A well-written essay that showcases your personality and ambition will stand out.
- Demonstrate Leadership and Engagement: Scholarship committees love to see candidates who go beyond coursework. Make sure to emphasize any extracurricular activities: perhaps you held an office in Beta Alpha Psi, volunteered as a VITA tax preparer, or competed in an accounting case competition. Active community involvement and leadership in professional organizations can set you apart.
Student Resources for Accounting Master’s Students
- American Institute of CPAs (AICPA) – The national professional association for CPAs. Offers student affiliate memberships (free) with access to scholarships, mentorship, CPA Exam info, and networking. The AICPA site also provides news, publications, and career resources for aspiring accountants.
- ThisWayToCPA – AICPA’s student-focused portal. Features articles on accounting careers, the CPA Exam, academic guidance, and a national scholarship search tool. It’s a one-stop hub for tips on succeeding in school and making the transition to the accounting profession.
- National Association of State Boards of Accountancy (NASBA) – NASBA coordinates CPA licensing across states. Their site has a directory of all State Boards of Accountancy, CPA Exam FAQs, and tools like the CPA Examination Services.
- Institute of Management Accountants (IMA) – Professional organization for management accountants (CMA certification). Student members get access to networking events, mentorship, scholarships, and career tools. IMA’s resources help you explore accounting roles in industry and hone skills in financial management and analysis.
- National Association of Black Accountants (NABA) – NABA provides networking, leadership training, and career opportunities for Black accounting and finance students. They host regional student conferences and offer scholarships and an internship portal. Non-Black students can also join; NABA’s mission is inclusion and diversity in the profession.
- ALPFA (Association of Latino Professionals For America) – A leading organization for Latino professionals in finance and accounting. ALPFA offers student chapters, career fairs, an annual convention, and scholarships and is a great resource for mentorship and internships with corporate partners committed to diversity.
- Accounting & Financial Women’s Alliance (AFWA) – AFWA supports women in accounting and finance as they offer local chapters for networking, CPE webinars, and an annual conference. Student members can access leadership development programs and connect with women mentors in public accounting and industry.
- Beta Alpha Psi (BAP) – An international honors organization for accounting, finance, and IS students and professionals with over 300 campus chapters. BAP provides opportunities to attend regional and national meetings, participate in community service, and network with top students and firms (Beta Alpha Psi).
- American Accounting Association (AAA) – The AAA is the premier academic organization for accounting educators and researchers. As a master’s student, AAA resources can be useful if you’re involved in research or considering a PhD.
- The Institute of Internal Auditors (IIA) – Professional association for internal audit. If your degree includes internal audit or you’re considering the CIA certification, the IIA offers student membership with access to standards, practice guides, webinars, and a career center for internal audit roles.
- Association of Certified Fraud Examiners (ACFE) – The ACFE is the largest anti-fraud organization. Students interested in forensic accounting or fraud examination can tap into ACFE’s resources: articles on fraud cases, study materials for the CFE exam, local chapter events, and mentorship by fraud professionals.
- Financial Accounting Standards Board (FASB) – The FASB issues U.S. GAAP standards. Its website has a Student Observer program, free access to the Accounting Standards Codification for students (with an academic account), and educational webcasts.
- Governmental Accounting Standards Board (GASB) – GASB is like FASB, but for state and local government accounting standards. If you take a governmental accounting course or are interested in public sector accounting, GASB’s site offers free guides and access to statements and implementation Q&As.
- Journal of Accountancy – A flagship magazine published by the AICPA covering accounting news, CPA career tips, and technical topics in a practical way. The JofA website has archives of articles on everything from new accounting standards to soft skills development.
- Accounting Today – A news site and magazine for the accounting industry. It features daily updates on accounting firm news, tax law changes, technology in accounting, and practice management.
- AccountingCoach – A free online resource that offers tutorials on accounting fundamentals. Great for brushing up on concepts like advanced journal entries, statement of cash flows, or ratio analysis.
- Coursera – Online Accounting & Analytics Courses – Platforms like Coursera and edX host courses relevant to accounting students, often created by top universities. These can supplement your grad coursework and beef up your technology skills; many courses are free to audit.
- Federal Student Aid (FAFSA) – The U.S. Department of Education’s official site for financial aid. The site has tools to calculate loan payments and information on Grad PLUS loans, which can help you finance any tuition not covered by scholarships.
- Reddit – r/Accounting – An online community of over 200k accounting professionals and students, this is an informal resource, but you can read firsthand experiences about CPA exam strategies, ask questions about which firms to work for, get study tips, or commiserate during busy seasons.